US consumer sentiment slides to six-month low in May
WASHINGTON (Reuters) - U.S. consumer sentiment sagged to a six-month low in May amid growing anxiety about inflation, unemployment and interest rates, a survey showed on Friday. The University of Michigan's preliminary reading on the overall index ...
May 10, 2024
Exclusive-Biden to put tariffs on China medical supplies - sources
By Jarrett Renshaw and Trevor Hunnicutt (Reuters) - The Biden administration is expected to issue new tariffs on Chinese-made medical devices like syringes and personal protective equipment when it unveils its new trade strategy next week, accordin...
May 10, 2024
Fed's Logan says US monetary policy may not be tight enough
By Ann Saphir NEW ORLEANS, Louisiana (Reuters) - Dallas Federal Reserve President Lorie Logan on Friday said it's not clear if monetary policy is tight enough to bring inflation down to the U.S. central bank's 2% goal, and it is too soon to be cutt...
May 10, 2024
Brazil inflation slightly exceeds forecasts in April as pace of rate cuts slows
SAO PAULO (Reuters) - Brazil's annual inflation continued to trend down but slightly less than expected in April, official data showed on Friday, in the first consumer price readings after the nation's central bank voted to reduce the pace of its i...
May 10, 2024
China's cenbank says it will keep prices stable, guard against yuan overshooting risks
BEIJING (Reuters) - China's central bank said on Friday it will precisely and effectively implement its prudent monetary policy, maintain price stability and guard against overshooting risks in the yuan exchange rate. In its first-quarter monetary-...
May 10, 2024
US equity funds gain weekly inflows amid renewed hopes of rate cut
(Reuters) - U.S. equity funds registered their first weekly inflow in six weeks in the seven days to May 8 thanks to a softer than anticipated payrolls report that revived hopes that the Federal Reserve would trim interest rates this year. Investor...
May 10, 2024
Global equity funds attract big inflows as rate cut bets rise
(Reuters) - Demand for global equity funds rose sharply in the seven days to May 8, driven by renewed bets on Federal Reserve interest rate cuts after a softer than anticipated U.S. employment report. Investors bought a net $12.72 billion worth of...
May 10, 2024
Ford CFO to become vice chair, Lucid Motors exec House to succeed
(Reuters) - Ford Motor said on Friday CFO John Lawler would take on the additional role of being the company's vice chair and that former Lucid Motors finance chief Sherry House will join the company and succeed Lawler as CFO in early 2025. (Repor...
May 10, 2024
Canada gains a net 90,400 jobs in April, jobless rate holds at 6.1%
OTTAWA, May 10 (Reuters) - Canada's economy gained a net 90,400 jobs in April, both in full-time and part-time work, and the jobless rate held at 6.1%, Statistics Canada data showed on Friday. Employment in the goods producing sector fell by a net 10,4...
May 10, 2024
ECB preparing for June rate cut, accounts show
FRANKFURT (Reuters) - Euro zone inflation is on track to ease back to 2% next year so European Central Bank policymakers concluded last month they will likely be in a position to cut interest rates in June, the account of their April meeting showed...
May 10, 2024
Ford to assemble 300,000 cars a year at spanish plant in Valencia region from 2027
MADRID (Reuters) - U.S. car maker Ford plans to assemble 300,000 units of a new model per year at its Spanish plant in the Valencia region starting 2027, the Spanish Industry Ministry said on Friday. The company had said in March it was considering...
May 10, 2024
China's Zeekr set to debut on NYSE after upsized IPO
(Reuters) - Shares of China's Zeekr Intelligent Technology were scheduled to start trading on the New York Stock Exchange on Friday after the electric-vehicle maker priced its initial public offering at the top end of its marketed range. The debut ...
May 10, 2024
Citi upgrades India to "overweight" citing stable earnings, economic growth
By Bharath Rajeswaran BENGALURU (Reuters) - Citigroup analysts upgraded India to "overweight" from "neutral" in their emerging markets allocation on Friday, citing strong earnings and economic growth momentum. The brokerage expects India's blue-chi...
May 10, 2024
Futures rise ahead of data, speeches from Fed officials
(Reuters) - U.S. stock index futures rose on Friday with focus on speeches from Federal Reserve officials, after economic data this week supported bets of U.S. interest rate cuts and lifted investor sentiment. Wall Street indexes were back in sight...
May 10, 2024
Column-Forget market angst, just 'KISS' and make up: Mike Dolan
By Mike Dolan LONDON (Reuters) - Worried about a hawkish Fed, over-valued stocks, teetering debt piles, volatile currencies, cliffhanger elections or rancorous geopolitics? Relax and don't over-think it. For those with long-term savings horizons, t...
May 10, 2024
Morning bid: May rescued by jobless jump, BoE shift, HK surge
A look at the day ahead in U.S. and global markets from Mike Dolan World stock indexes have shaken off a month of doubts to come back within 0.5% of record highs on signs of a loosening U.S. labor market, falling European interest rates and another Hon...
May 10, 2024
Fed's Bostic says economy likely slowing, though rate-cut timing uncertain
By Howard Schneider WASHINGTON (Reuters) - The U.S. central bank likely remains on track to cut interest rates this year even if the timing and extent of the policy easing is uncertain and further declines in inflation come only slowly, Atlanta Fed...
May 10, 2024
US auto regulator opens probe into over 200,000 Ford vehicles
(Reuters) - The U.S. auto safety regulator said on Friday it was opening a preliminary evaluation into 210,960 Ford vehicles following complaints alleging diesel fuel leaks that may result in a fire. A preliminary evaluation is the first step to de...
May 10, 2024
US auto regulator opens preliminary evaluation into Fisker's Ocean vehicles
(Reuters) - The U.S. auto regulator on Friday opened a preliminary evaluation into about 6,813 Fisker's Ocean vehicles over reports of inadvertent activation of the automatic emergency braking system. (Reporting by Abinaya Vijayaraghavan in Bengal...
May 10, 2024
China's April car sales swing to contraction despite NEV milestone
BEIJING (Reuters) - China's car sales fell 5.8% in April from a year earlier, industry data showed on Friday, as a ferocious price war and incentives failed to shake off consumers' caution about spending on big items during a shaky economic recover...
May 10, 2024
Porch sues China Construction Bank in US over reinsurance fraud losses
(Reuters) - U.S. insurance and home inspection software provider Porch Group is suing China Construction Bank Corp (CCB), the country's third-biggest lender by assets, for allegedly enabling a "massive fraud" that caused "monumental losses" for Por...
May 10, 2024
Japan economy expected to shrink in Q1 due to weak consumption - Reuters poll
By Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy likely contracted an annualised 1.5% in the January-March quarter as all key drivers of growth slumped due to an uncertain outlook, a Reuters poll showed, which will probably set back Bank of J...
May 10, 2024
Take Five: Go your own way
(Reuters) - Global central banks are starting to break away from the pack as rate cuts roll out across Europe while borrowing costs in the U.S. may stay higher for longer, which is lifting the dollar. A key test of U.S. inflation is at the heart of...
May 10, 2024
UK exits recession with better-than-expected 0.6% GDP growth
By Suban Abdulla and David Milliken LONDON (Reuters) -Britain's economy grew by the most in nearly in three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Mini...
May 10, 2024
European shares open at record high on boost from energy stocks, miners
(Reuters) - European shares opened at a record high on Friday, led by energy companies and miners, setting the benchmark index for its biggest weekly gain since late January on growing interest rate cut bets in the region. The pan-European STOXX 60...
May 10, 2024